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BANCNET- NATIONLINK INTERCONNECTION CONCLUDED.  BANCNET and INFOSERVE, operator of the NATIONLINK NETWORK, formalized on June 7, 2007, the Memorandum of Agreement for the BANCNET-NATIONLINK interconnection. NATIONLINK is the official industry network for thrift and rural banks, credit and savings cooperatives, and microfinance institutions. This interconnection will bring the countryside to mainstream banking thus spurring economic development in the rural areas. As the official industry network for rural banks, credit and savings cooperatives and microfinance institutions, Nationlink is set to become the biggest ATM network in the Philippines in terms of subscribers and members.

Nationlink services people and institutions in rural areas.  By providing the marginalized especially the poorest of the poor in the countryside with modern banking services, Nationlink comes as an answer in transforming their lives in the countryside. Until the creation of the Nationlink Network for the rural poor, this sector of society remained unserved in terms of modern financial services since the major banking networks have only focused on the urban areas.

Launched in June 2006, Nationlink has already installed 20 automated teller machines (ATM) across the country.  Another, 150 machines are set to go online.  The network is currently improving its installation and implementation processes to cope up with demand for its services.  It complements the existing ATM networks of Bancnet, Megalink  and Expressnet  which are mostly concentrated in cities and urbanized towns.

Interconnections

Following the signing of a memorandum of agreement with Bancnet last June 2007 for their interconnection.  Nationlink Network and Bancnet interconnected in July 2007.

Zoilo Jesus dela Cruz III, founder of Nationlink says “ this interconnection is both historic and meaningful.” “This will spur tremendous economic development in the countryside—benefiting our farmers, fishermen, market vendors, micro entrepreneurs, OFW beneficiaries, and even the poor and the marginalized,” he said.

“The transforming effect of this interconnection is tremendous, this will change people’s lives”. He added.

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